Stocks round the globe plunge amid bail-out doubts
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By Deutsche Presse-Agentur Oct 6, 2008, 15:46 GMT
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They are plunging because everyone knows the valuation of equities has been absurd for years. In fact, fraudulent. It is an unspoken crime.
Remember when Bush wanted to put YOUR social security money into the hands of these bastards (with privatization)? What a joke. Bush is an idiot that doesn't know anything about financial matters.
Bush had a business once, his daddy's friends made him rich with an insider sale. He did not succeed on merits.
how dare you say that about our president prick c--k sucker hitler bastard of Geo h. and Barbara bush
'how dare you say that about our president prick c--k sucker hitler bastard of Geo h. and Barbara bush'
Thank you.
It is my job to 'speak the unspoken truth', because most people do not have the balls to do it themselves.
It is SP4's (and those like him) job to try to get me to shut up and thus keep the truth unspoken. They do it because they are afraid of their own shadow (Bush included).
we shut up for no one including the stoop sp4.
or that Smiley D a-hole will label you as creepy stalkers of SP4. We all know what an onerous tag that is, don't we.
Bye bye American pie. Byeeeee.......
is the the $700B Bailout has not had any effect and things are getting worse.
Precisely - having let America live on massive credit (while spending billions on overseas invasions) this administration has now lost all control of the situation, and this American disease is now affecting the rest of the World (as with so many other American cock-ups)
The head of failed US investment bank Lehman Brothers has told Congress that he took home about $300m in compensation over the past eight years.
Turning to Mr Fuld, Mr Waxman asked whether it was true he had received $480m (£276.2m) in pay and bonuses since 2000 - and whether this figure was fair.
Mr Fuld replied that the correct total was about $300m (£172.6m).
Mr Waxman also criticised Mr Fuld for requesting multi-million dollar bonuses for departing executives just days before last month's collapse.
'In other words,' he added, 'even as Mr Fuld was pleading with [Treasure] Secretary [Henry] Paulson for a federal rescue, Lehman continued to squander millions on executive compensation.'
'The economy is schtrong.' Damn these false teeth. They keep getting loose.
Bush's mouth is full of false teeth and falsehoods.
Sorry for the cut and paste, but there is no way to improve on the wording.
Chief among those to whom responsibility attaches for the financial crisis that is plunging the nation into recession is former Texas senator Phil Gramm, McCain's own economic guru.
Gramm was always Wall Street's man in the Senate. As chairman of the Senate Banking Committee during the Clinton administration, he consistently underfunded the Securities and Exchange Commission and kept it from stopping accounting firms from auditing corporations with which they had conflicts of interest. Gramm's piece de resistance came on Dec. 15, 2000, when he slipped into an omnibus spending bill a provision called the Commodity Futures Modernization Act (CFMA), which prohibited any governmental regulation of credit default swaps, those insurance policies covering losses on securities in the event they went belly up. As the housing bubble ballooned, the face value of those swaps rose to a tidy $62 trillion. And as the housing bubble burst, those swaps became a massive pile of worthless paper, because no government agency had required the banks to set aside money to back them up.
The CFMA also prohibited government regulation of the energy-trading market, which enabled Enron to nearly bankrupt the state of California before bankrupting itself.
Gramm and McCain do have an enduring political and economic alliance. McCain chaired Gramm's short-lived presidential campaign in 1996; Gramm is co-chair of McCain's current effort. McCain has not repudiated reports that Gramm is on the shortlist to become Treasury secretary if McCain is elected, even after Gramm labeled America 'a nation of whiners.'
...Citigroup gets mega bucks for a buyout that could have been done privately?
How much of this could have been done without government help?
Never mind - that intellectual giant Palin will doubtless have all the answers, and will be able to prevent SP4 having to admit America is in recession
regarding: 'so much Bull.'
You are absolutely WRONG, again. It is a Bear market. We had the Bull and now we are dealing with it's sh*t. A lot of sh*t. But we couldn't expect anything else from you, could we, except more Bullsh*t. The GOP is a party of whiners. It is always someone else's fault.
The greed has gobe further than you can imagine as Lehman brothers hoarded 2.5 billion dollars away to pay a bonus for it's NYC executuives .A staggering amount of money indeed:
www.nypost.com/seven/09212008/news/regionalnews/execs_crash__earn_13009 9.htm
There is an old saying: If you play with the bull, sometimes you get the horn.
Right now everybody is getting the horn. Right up the wazoo.
EssPee must really be enjoying this, after all, he is the 'man' who stated: 'f*ck me up the ass and call it dinner.' I bet he isn't the only 'man' enjoying this. The GOP is chock-full of toe-tappers.
Banking of America announced worse-than-expected earnings more than a week in advance;they also cut dividend in half and announced a $10B stock sale.
like any of you have any money in the market.
'Chief among those to whom responsibility attaches for the financial crisis that is plunging the nation into recession is former Texas senator Phil Gramm, '
That is the biggest load of nonsense posted here yet. And that is truly saying something.
The Main reason we are in an economic crisis is that the housing bubble has burst and it is taking down the lenders who gave mortgages to people who could not afford to borrow what they were allowed to borrow. These mortages were often sold to Fannie and Freddie/ Quasi private institutions who had public backing. The CEO's oand overseers of Fannie and Freddie were experts at buying off politicians in order to avoid regulation.
Obama took more money from Freddie and fannie than any other senator in such a short period of time. The only reason Chris Dodd was able to wring out more is because he was in the senate over 10 years. Here:
www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html
All Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008
Name, Office, State, Party, Grand Total, Total from PACs, Total from Individuals
Dodd, Christopher J S CT D $165,400 $48,500 $116,900
Obama, Barack S IL D $126,349 $6,000 $120,349
Obama was the number 1 recipient of money from the failed countrywide mortgage lender.
This entire bailout/Crisis was caused by Freddie and fanny deliberately buying loans that were marginal from banks that deliberately loaned to people who were not qualified to borrow. Jim Johnson and Franklin Raines were CEOs of Freddie and Fannie and both walked away from the mess they made with tens of millions in undeserved bonuses and BOTH are not only contributers to Obama but both are key political and economic advisers to him and his campaign. Jim Johnson oversaw the Obama vice presidential search committee.
Penny Pritzker is Obamas campaign finance chairman, she made millions in the sub-prime crisis. Add Jamie Gorelick who is one of the Fannie executives who benefited from inflated bonuses based on Enron-style accounting and another Obama adviser and you pretty much have most of the major people involved in buying off politicians in order to limit Fannie/Freddies accountability giving money and advice to Obama.
Barack Obama is continuing a long history of helping other people steal from the tax payer in exchange for financial contributions and power. He did it with tony Rezko in Chicago who stole millions from the taxpayers took care of him well.. Now he is doing it with the CEOs of these failed banks who have bought and paid for him with OUR money in order to stop the regulatory bodies from stopping them from stealing.
Take a look at a video of a series of democrats actually stopping regulation that would have stopped this mess:
www.youtube.com/watch?v=_MGT_cSi7Rs
Take a look at that video and it will make sense.
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